The Department of Trade and Industry (DTI) said on Monday that the “dumping of oil tubular goods” which the United States (US) is accusing the Philippines of is under investigation.
Trade and Industry Secretary Gregory Domingo said that the government is investigating the issue but expressed optimism on the local producers that export oil tubes.
He also said that among the five companies in the country making oil tubular goods, three are exporting oil tubes.
DTI Undersecretary Adrian Cristobal said that the Bureau of Import Services is “investigating the matter” at present.
If the three local companies accused are proven to be guilty of the US allegation, Cristobal said they will be charged with “antidumping duties.”
Nine countries, including the Philippines, are accused of dumping cheap oil tubular goods to the US market. The other eight nations which are also the subject of investigation are Turkey, Saudi Arabia, South Korea, Taiwan, India, Thailand, Vietnam and Ukraine.
Earlier, the United States International Trade Commission (USITC) said that it is also investigating the matter and said that nine US oil tube manufacturers passed a petition to conduct antidumping and duty investigations.
USITC conducted an initial hearing in the last week for July, and is expected to hold again another sometime in August.
Dumping occurs when a country exports a commodity at prices lower than its domestic prices. When a country exports products at dumping prices, it is engaged in unfair trade.
Kristyn Nika M. Lazo